First Mid Bancshares, Inc. $FMBH Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP raised its stake in First Mid Bancshares, Inc. (NASDAQ:FMBH) by 59.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 27,925 shares of the bank’s stock after buying an additional 10,397 shares during the quarter. Quantinno Capital Management LP owned approximately 0.10% of First Mid Bancshares worth $1,150,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of FMBH. Sei Investments Co. increased its holdings in shares of First Mid Bancshares by 61.7% in the 1st quarter. Sei Investments Co. now owns 13,885 shares of the bank’s stock worth $572,000 after acquiring an additional 5,300 shares during the period. PNC Financial Services Group Inc. lifted its position in First Mid Bancshares by 23.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,455 shares of the bank’s stock valued at $184,000 after purchasing an additional 848 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in First Mid Bancshares by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,101,095 shares of the bank’s stock valued at $45,354,000 after purchasing an additional 56,997 shares during the last quarter. Swiss National Bank boosted its stake in First Mid Bancshares by 7.5% during the 1st quarter. Swiss National Bank now owns 45,900 shares of the bank’s stock valued at $1,891,000 after purchasing an additional 3,200 shares during the period. Finally, Principal Financial Group Inc. acquired a new position in First Mid Bancshares during the 1st quarter valued at about $1,012,000. Institutional investors and hedge funds own 47.57% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of First Mid Bancshares in a research report on Wednesday, July 29th. Raymond James Financial reissued an “outperform” rating and issued a $48.00 price objective on shares of First Mid Bancshares in a report on Friday, May 1st. Keefe, Bruyette & Woods raised their target price on First Mid Bancshares from $50.00 to $54.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. DA Davidson raised their target price on First Mid Bancshares from $47.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Finally, Piper Sandler lifted their target price on First Mid Bancshares from $55.00 to $62.50 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, First Mid Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $54.62.

First Mid Bancshares Stock Performance

Shares of FMBH opened at $52.01 on Friday. The firm has a 50-day moving average price of $48.99 and a 200 day moving average price of $44.75. The firm has a market capitalization of $1.38 billion, a PE ratio of 12.91 and a beta of 0.78. The company has a quick ratio of 0.97, a current ratio of 0.95 and a debt-to-equity ratio of 0.03. First Mid Bancshares, Inc. has a 52-week low of $34.15 and a 52-week high of $53.36.

First Mid Bancshares (NASDAQ:FMBH) last released its earnings results on Thursday, July 23rd. The bank reported $1.26 EPS for the quarter, beating the consensus estimate of $1.05 by $0.21. First Mid Bancshares had a net margin of 19.76% and a return on equity of 10.86%. The firm had revenue of $109.32 million for the quarter, compared to analysts’ expectations of $107.42 million. On average, sell-side analysts anticipate that First Mid Bancshares, Inc. will post 4.69 earnings per share for the current fiscal year.

First Mid Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a dividend of $0.26 per share. This is a boost from First Mid Bancshares’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Tuesday, August 18th. First Mid Bancshares’s dividend payout ratio (DPR) is 24.81%.

About First Mid Bancshares

First Mid Bancshares, Inc (NASDAQ: FMBH), headquartered in Mattoon, Illinois, is a financial services holding company that offers a comprehensive suite of banking products and services through its main subsidiary, First Mid Bank & Trust. The company’s primary business activities include commercial and retail banking, mortgage origination and servicing, wealth management and trust administration, as well as treasury and cash management solutions.

Through its branch network, First Mid provides consumer deposit products such as checking and savings accounts, certificates of deposit and online banking services.